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IN RE SOUTH AIKEN, LTD.

Bankruptcy No. 89-2974PGH.

121 B.R. 7 (1990)

In re SOUTH AIKEN, LTD., Debtor.

United States Bankruptcy Court, W.D. Pennsylvania.

November 7, 1990.

Attorney(s) appearing for the Case

George M. Cheever, and Daniel J. Sponseller, Pittsburgh, Pa., for John Alden Life Ins. Co.

C. Andrew McGhee, Pittsburgh, Pa., for debtor.

William H. Mendlow, and Sharon M. O'Neill, Pittsburgh, Pa., for Urban Redevelopment Authority of Pittsburgh.

C. Robert McCall, Pittsburgh, Pa., for Developments, Inc.

Gary P. Nelson, Pittsburgh, Pa., for Shadyside Hosp.

OPINION

WARREN W. BENTZ, Bankruptcy Judge.

Background

South Aiken, Ltd. ("Debtor") filed a petition under Chapter 11 of the Bankruptcy Code on November 6, 1989. Presently before the court are two competing plans of reorganization, one by the Debtor and one by John Alden Life Insurance Company ("Alden"). Alden is the first mortgage holder on the Debtor's sole asset, an office building known as Shadyside Place (the "Premises").

Alden...

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